Mumbai, October 8 (Commodities Control): Small cardamom prices have continued their downward trend as harvesting pressure weighs on the market. Prices have decreased slightly, driven by buyers engaging in hand-to-mouth transactions as arrivals increase.
Local traders report low demand from the North, which is contributing to the price decline. However, anticipation of rising demand for Diwali, expected to pick up from mid-October, could provide some support for prices.
Auction data reveals that the average price per kilogram today ranged between Rs 2,218 and Rs 2,239, a drop from Rs 2,252 yesterday. Notably, the highest price per kilogram increased to Rs 3,085 from Rs 2,626 in the previous session.
Total arrivals were reported at 140,373 kg, significantly up from 71,582 kg in the last auction, which took place across two centers. Of the arrivals, offtake reached 130,898 kg, an increase from 69,826 kg, thanks to a rise in auction volume. However, the season’s offtake has fallen to 93.3%, down from 97.5% in the previous season, reflecting average demand in the face of higher arrivals.
Grade-specific prices have remained stable, with bulk grade prices holding within a consistent range. Prices per kilogram for grade 7 mm are between Rs 2,200 and Rs 2,280, for grades 7-8 mm between Rs 2,420 and Rs 2,550, and for grades 8 mm or higher between Rs 2,680 and Rs 2,820.
Overall, prices have been trading within a broader range, with strong demand anticipated as the holiday season approaches. However, with the harvest underway, further arrivals are expected, which could temper any sharp increases in prices.
(By CommoditiesControl Bureau; +91-9820130172)
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